Brazilian Educators Merge

Apr 23, 2013

Brazil’s Kroton Educacional has agreed to buy peer Anhanguera Educacional for BRL5.0bn ($2.49bn) in an all-stock deal, the companies say, in order to take better advantage of consolidation possibilities in the sector. Kroton will issue 198.8m new shares to pay 1.36 shares for each Anhanguera share, indicating a BRL5.0bn price at the...